Forex Daily Podcast

The EUR looks to be in a correction which started in mid November. We are looking for the EUR to eventually run up to the 1.2150 - 1.2500 level. We like to see a 3 wave move down before finishing with a move up to these levels. With the weakness of the USD right now, we may not get the move down. Be patient and wait for the trades to come to you. The EUR currently trades at 1.2061. We'll we've gotten our larger correction on the GBP as we discussed last week. We think it will run up to the 1.7700 to the 1.8400 level. We'll have a more precise target as this market continues to reveal itself. Like the EUR/USD are looking for a 3 wave move down so we can trade up towards these targets. The GBP currently trades at 1.7500. The CHF should continue to move down to the 1.2750-1.2550 levels. Ideally, we'll get a corrective 3 wave move up before the move continues to these levels. The CHF currently trades at 1.2862. The JPY moved down starting late last week as we thought. Although we didn't want to hol